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Take Figure 1 below, which is related to the different evolution of the structural composition of two different economies, Brazil and South Korea, from 1970
Take Figure 1 below, which is related to the different evolution of the structural composition of two different economies, Brazil and South Korea, from 1970 to 2000. Figure 1 b) Brazil and Korea 1000 Korea 1970 Korea 2004 740 (Percentajes) Industrial Shar T Brazil 1970 Brazil 2000 SOOD 10000 15606 20060 25000 35006 40000 Labor productivity (1985 US$ dollars) Labor Intensive O- R&D intensive - Natural resources intensive (a) Describe the main differences in the development experience of South Korea and Brazil as emerging from Figure 1 (5 points) (b) Taking inspiration from Figure 1, outline the main reasons why the process of structural change, manufacturing development in particular, has been traditionally so vital for the more general process of economic development (13.3 points) (c) Outline and provide a brief description of the possible obstacles to the process of structural change and industrialization in developing countries (15 points)
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